All posts by: SCG

How to be a healthy entrepreneur

Working for yourself can be an appealing proposition. When you are self-employed you don’t have to fuss with the boring jobs that you hated in your old position. Instead, you can just focus on the work that you are most excited by. At least that’s the theory. Long term, it’s true that you can create the working culture that you have always dreamed of.

There are some things that you should be aware of when you work for yourself, though. It can be hard to maintain a good work/life balance and to look after your health when you are so focused and driven and your primary goal is to build a company that you can be proud of. Ensure that you have appropriate health care with Medicare Supplement Plans.

There are precautions that you can take to avoid burnout. These tips will help you to look after yourself while you are a small business owner.

Take care of your diet

It can be tempting to grab some fast food or order something for delivery when you’re working from home. It’s also easy to forget to eat when you’re not working a 9 – to – 5 role. Don’t fall victim to bad habits. If you’re not eating a nutritionally balanced diet your health will suffer. Avoid processed foods, limit soda and alcohol, and try to eat lots of fresh vegetables and drink lots of water. You should notice that your productivity and energy gets better after a sustained period of eating well.

Turn off social media

If your role requires that you spend a lot of time on social media, then you’re using social media as a hobby, too, it is easy to end up burnt out. Don’t waste time comparing yourself to other people and their accomplishments. Stick, instead, to things that make you feel good. Disconnect from the Internet outside of working hours and go outside. Call a loved one, go for a walk, or read a book. There is a world outside of Facebook and Instagram.

Look after yourself (not just your business)

Business owners spend a lot of time doing things for other people. Servicing clients and employees can be a full-time job. It is hard work to have to smile and be polite every single day even when a client is being difficult. Take a moment to find some downtime and do some things that you want to do. When you are able to make time for yourself you should find that you feel better and more productive and that some of the anxiety associated with your business fades away. Even spending a few minutes every day doing something outside of work can be beneficial. Whether that’s exercising during your lunch hour with a walk in your new shoes from Orthotic Shop, painting when you get home from work or going for a walk with the dog doesn’t matter, as long as it is something that you personally find therapeutic.

Get some sleep

One of the first things that tends to suffer when a person’s to-do list fills up is sleep. While there may occasionally be times when working late is actually important, most things can wait. The CDC recommends that adults get 7-8 hours of sleep per night. Sleep deprivation reduces productivity and cognitive functioning, can weaken the immune system, and can reduce your mental wellbeing. Stick to a sensible sleep routine.

 

Giving your business the professional appeal it needs

Every business wants to look professional, but it is not enough to learn how to tie a tie and make sure your attire is dry cleaned and wrinkle-free. While these are good for a first impression, they are not the only ways companies should endeavour to present themselves as legitimate in the eyes of shareholders, investors, and customers. If you run a startup, then you need to ensure you look professional to boost your reputation and make people want to work with you.

Invest in a domain name

Investing in a legitimate domain name, and not a string of characters after a WordPress URL will immediately demonstrate that you mean business. Registering this domain name will give your business the appeal that it needs to attract new customers and investors, even if you started on a Shopify or Etsy site.

Through this domain name, you will give people the chance to find your company when they search it on Google. You can also include it on your profiles, business cards, and as a signature at the bottom of an email address. While you are at it, you should also consider a business email server that can declutter your personal inbox to keep everything organised.

Make it easy to contact

A business email will make it easy to contact you, but so will a dedicated business address, whether an office space or your home and a dedicated phone number. Furthermore, while paper correspondence is becoming increasingly rare due to the desire to minimise paper waste, there will still be occasions where such communication is necessary.

A fantastic way to deal with this and ensure that you never miss a bill or payment again is to consider a cheap virtual address in states that offer it. This virtual address will add a touch of professionalism to your business, allow you to read all messages wherever you are, and help you stay on top of contracts and payments. It will also make you appear less like an online business, which could be attractive to potential investors.

Realise you can’t do it all

From marketing to web design to payroll, too many entrepreneurs have a vision that they want to follow to the letter. However, you cannot be a jack of all trades, and if you are not experienced enough in these areas, it will harm your business.

Instead, outsourcing these projects and essential tasks will allow your business to grow more organically. The dedicated teams you task with completing these demands are professionals, and can, therefore, do everything you need much better than you could have done. For any business wanting to look more professional, accepting that you cannot do it all is part of the process.

Looking the part

Optics is a massive part of success in business, and if you want to hit the ground running and get off to the best start possible, looking professional is the way to do so. Nobody wants to work with rank amateurs, so you should do everything you can to present an aura of professionalism from the top to the bottom of the company. The investment is sure to pay off.

 

Over 90% of organisations experience identity-related security breach

Cybersecurity is a growing priority for all businesses. No enterprise is too small to assume that it flies below the radar of cyber criminals. The malware and ransomware statistics speak for themselves. Over 40% of malware attacks are aimed at small businesses. Why? Perhaps because they tend to under-invest in their cyber security infrastructures. Or maybe it’s because small businesses are more likely to pay up in the event of a ransomware attack? Small businesses are, after all, people’s livelihoods, and particularly vulnerable right now, with thousands of self-employed people still not getting the support they need. In any event, one thing’s for sure. As cyber security threats grow more proliferate and sophisticated, businesses of all shapes and sizes need to be proactive in the battle against digital security threats.

Pixabay

Moreover, a recent report has shown that there is an extremely common vulnerability that many businesses share. That of identity security.

79% of organisations have experienced an identity-related breach in past 2 years

A shocking report revealed recently by the Identity Defined Security Alliance (IDSA) demonstrates that nearly 8 out of 10 organisations have experienced an identity-related security breach. The report, which is based on a survey of 502 IT security and identity decision makers, revealed some potentially worrying statistics.

  • 94% of respondents had an identity-related breach at some time
  • 79% had experienced an identity-related breach within the last 24 months
  • 99% believe that the identity-related breaches experienced could have been prevented

Although this makes for sobering reading for many small business owners, many companies interviewed for the report still had not completed implementation of identity-related security measures. For over 50%, identity-related security was still a work in progress.

Phishing still the most common cause 

66% of respondents stated that phishing is the most common cause of identity-related breaches. At a time when many businesses are scrambling to remain as operationally efficient and agile as possible to remain competitive in the challenging current climate, the report shows that issues such as cyber security can still be overlooked. Even a measure as simple as training employees how to spot phishing emails could lead to a marked decline in identity-related breaches.

Effective partnerships integral to robust identity security

In an age of DevOps, increased automation and widespread enterprise-connected devices (as well as BYOD policies) there is currently a dramatic growth in the number of workforce identities. As such, a growing proportion of businesses have chosen to partner with outsourced identity security specialists for IAM Solutions. Whether starting from scratch or integrating measures into an existing system, effective partnerships can provide the key to robust identity security without bringing logistical or operational headaches.

Proactive companies less seriously affected

One of the key takehome messages for small businesses from the report is that the price of complacency is extremely high. While 71% of respondents had made organizational changes to their ownership of identity management, the numbers show that fortune favours the proactive.

59% of companies that admit to a “reactive” security culture experienced identity-related breaches in the past year. On the other hand, only 34% of companies that had a “forward-thinking” security culture reported such breaches.

 

Unbounce landing page optimization tips

Unbounce is one of the top landing page builders that the market offers. Given the fact that you can create high-converting landing pages with their software, you need to know how to properly optimize them.

You see, too many times marketers will go through a process that includes the following steps.

Create a landing page.

Send some targeted traffic to it.

Give up when they don’t see the results that they desire.

Or even worse, they blame the landing page company for their lack of results.

This is not something that you want to do. Instead of giving up, you need to take a look at your landing page and how you can optimize it.

So how exactly can you do that? Be sure to keep reading on to get all the help that you need with Unbounce landing pages.

How to create the highest performing landing pages with unbounce

You’re in good hands when it comes to landing pages. In case you’re not familiar with them yet, they come with plenty of features to help you generate more leads and make more sales. If you’d like to learn more about their features and pricing, here’s a great place to get started.

So once you’ve become familiar with what Unbounce offers, here are a few great ways to creating higher converting landing pages.

Publish popups and sticky bars

These are features that normally go hand-in-hand with websites, but not when it comes to Unbounce. I’m getting ahead of myself though.

Popups are boxes that pop-up on your visitor’s screen when they accomplish a specific action, like looking to leave your landing page.

Alert bars sit at the top or bottom of your landing page and allow you to add a helpful reminder as well as get even more clicks to any desired landing page.

Given the fact that Unbounce comes with both of these features, you need to be using them as much as possible. If not, you’re simply leaving a lot of money (and conversions) on the table.

You get a total of 8 published popups and sticky bars to use with their Essential plan, which is plenty more than you need.

Leverage customizable landing page templates

Have you ever heard the phrase, why reinvent the wheel? I bring this up because it’s important to know that Unbounce comes along with many professional-looking customizable templates.

Not only will this allow you to save money, but it will also save you time because you won’t need to create a landing page from scratch. You can leverage what has already been given to you, and what’s given to you, is already in a great spot to convert highly.

Simply edit around the headlines, text, and colors for branding purposes, and then you’ll be able to quickly get your landing page ready to receive targeted traffic.

Setup Unbounce A B split testing

What’s great about Unbounce is not only do they have a split-testing feature, but it’s also very easy to use. You can split-test your landing pages, popups, and even alert bars.

Take a few minutes to apply a few split-tests, and you’ll quickly find that your landing pages are going to start converting much higher, just by utilizing this helpful landing page feature.

Let’s look at another helpful feature for increasing conversions for your landing pages.

Utilize dynamic text replacement

Dynamic text replacement is a feature that increases the relevancy of your PPC campaigns. So what happens specifically, is that Unbounce inserts specific phrases according to what users are searching for.

This is a great way to increase the synergy of your landing pages. If someone is searching for growing your online business, and they land on your landing page that also talks about growing your online business, you’ve got 100% of their interest.

Let’s finish things up with one more tip that will really help you optimize your landing pages.

Contact Unbounce support

It’s okay, I imagine that you weren’t expecting this as a prime way to increase your landing page conversions, and that’s exactly why I wanted to add it in.

Given the fact that Unbounce has helped thousands upon thousands of customers create landing pages, it’s always great to get a second opinion on what you create.

And how do you do this? Simply reach out to them after you’ve created a landing page and sent some traffic to it. There are plenty of experts who would be able to chime in and give you a couple of helpful tips.

That’s why Unbounce has hands-on support, and they are available to help you at many of the hours during the day. Whether it be by phone, email, or live chat, simply pick the best method of contacting them in order to get some help with your landing pages.

Conclusion

There’s no wonder why Unbounce is a top pick when it comes to landing page builders. The features that they come along with can certainly help you create and customize high-converting landing pages.

Just make sure that you’re taking advantage of what they offer, otherwise, you’re not going to be able to make the most of the landing pages that you create.

 

Cryptocurrency and Blockchain applications

Originally, the Blockchain arose to support the digital currency, bitcoin, but it seems that its potential goes far beyond financial transactions. Do you know all the applications of the Blockchain?

It is not a new concept, since it emerged in 2009, but it is now when it is taking more value and importance. To understand the benefits of Blockchain it is necessary to understand what it was designed for.

Blockchain

When making a bank transfer, a number of financial intermediaries are needed. These intermediaries have the function of proving and verifying that we are who we say we are, without privacy having a place in this operation. The user has no control over the process, but the intermediaries manage the transfer and impose its conditions, charging interest for example.

The Blockchain, or blockchain in its translation into Spanish, aims to end intermediaries and that all have the same information. Thus, the financial transaction would not be controlled by the bank, but by the users. The Blockchain works like a database, in this case it would be like a ledger of which all the participants have a copy.

Each participant in this immense accounting database is identified as a node, and these nodes connect in a P2P (peer-to-peer) network without a main computer, thus favoring decentralization. The message transmitted is called a “token”, the definition of which would be “representation of the information hosted by the network”. This token can be any type of service or asset: money in the form of bitcoin, purchase of real estate, payment for supplies. Regardless of their type, all tokens have something in common, they travel encrypted, that is, their content is unknown. The transfer of these tokens is grouped into blocks (hence the name blockchain or blockchain), and those that do not fit in one block are grouped into the next, forming a chain.

To guarantee anonymity and prevent fraud, the Blockchain uses a verification system. Thus, if ‘user A’ wants to send money to ‘user B’ he has to make sure to send information to the rest of ‘nodes’, who will be responsible for validating that the operation is correct. To verify it, it is only necessary for ‘user A’ to show that they have money in their account and that ‘user B’ has an open account. Once confirmed, the operation is tied to the previous one, each time creating a larger and larger block. Thus, the Blockchain, which was conceived to support a digital currency or Bitcoin, certifies an anonymous and 100% secure money transfer. Profit secret app is one of most used bitcoin applications.

Blockchain applications

However, the true importance of Blockchain arises now, since it is a mechanism that could be applied to any type of transaction that requires verification. In this sense, in any case where a transfer needs to be made (which does not have to be money, but may be data) between two or more parties in an environment of mistrust, the opportunities of the blockchain would be infinite, since it would allow them to be done without the involvement of intermediaries. Here are some examples:

Elections

Being able to vote through the Blockchain is already a reality in some countries such as Sierra Leone, which has recently become the first to use the blockchain in an election. A company has developed a platform that allows 100% digital voting to be cast through a mobile application.

Thus, its operation is simple: the voter first receives a unique bidi code or QR code, non-transferable and associated with their identity, which ensures the privacy and authenticity of the vote. Through this code the voter accesses the application, which is directly linked to the Blockchain database. Within this application an administrator creates a survey with a question (in this case referring to the elections) and different answers. The code is scanned both to enter the application, as once it has been chosen among the responses, thus finally casting the vote.

This new use of the Blockchain represents a revolution, as it prevents citizens from having to go to polling stations. In addition, this system automatically counts the votes, which ends with the waiting time in the election results.

Bitcoin capture method! Get to know the price, market price, and timing rules!

The bitcoin market is entering a growing period. Comparing with other products will deepen understanding

  • Price volatility: increased by 1.1% last week. The rate of increase is second only to the Mothers Index
  • Correlation: Price movements have been relatively close to the dollar/yen for the past week
  • Speculative color trend: Bitcoin futures market in the US, speculators have a slight sales advantage
  • Technical Analysis: The prices of both the 5th and 20th moving averages have risen to the right. Is the rebound phase coming?
  • Price movements in dollars and yen: If the specific price deviates from the dollar/yen by 5 yen, is it more expensive and cheap?
  • What is the current topic “half-life”? What about the price?

Bitcoin market is entering a growing period. Compared with other products, it will deepen your understanding

This content compares what kind of investment/holding target bitcoin is based on data from various angles. We aim to give a certain answer while following the data to the question “What is Bitcoin in the first place?” “What should I use when buying Bitcoin?”

Compare Bitcoin (yen-denominated) in the following 5 points.

  1. Price volatility (size of price range of other major issues and Bitcoin)
  2. Correlation (Price transition of other major issues and Bitcoin over a certain period)
  3. 3. Trends in speculative colors (buying balance/purchasing ratio of speculative sources of other major issues and bitcoins)
  4. Technical analysis (past and present of Bitcoin price)
  5. Dollar-denominated and yen-denominated price movements (specification of bitcoins in different currencies)
  6. Price volatility, 2. Correlation, 3. The speculative trend of color trends is a comparison with multiple major stocks such as stock indexes, currencies, and commodities.

The technical analysis is the comparison of the past price transitions of Bitcoin itself and the latest price. Dollar-denominated and yen-denominated price movements are a comparison of price movements of bitcoins denominated in different currencies.

As a whole, 1.2.3 is a relative comparison between Bitcoin and other major stocks, and 4.5 is an absolute comparison focusing only on Bitcoin.

By combining this relative comparison and absolute comparison, you can deepen your understanding of Bitcoin. As a result, I think that it will be obvious whether Bitcoin is a useful asset for me, and what I should use when buying it.

Bitcoin prices plunged due to the “new corona shock” that occurred in the second half of February to the middle of March. Is repulsing. The details of Bitcoin price changes will be described later in “4. Technical analysis”.

Price volatility: up 1.1% last week. The rate of increase is second only to the Mothers Index

Although it has risen every few weeks, Bitcoin’s rate of increase was only 1.1% last week. Given that commodity prices such as crude oil, precious metals, and grains have fallen overall, it can be said that Bitcoin was relatively strong.

Bitcoin prices and mining costs

Bitcoin will generate blocks once every 10 minutes, and each time 12.5 BTC of new Bitcoin will be mined and paid to miners as a mining reward. Bitcoin of about 1800 BTC will be born in one day, but this produced Bitcoin will be sold in the market immediately. One of the reasons is that miners have to pay expenses such as electricity and computer costs for mining, so it is necessary to convert the reward to fiat currency. Therefore, when the mining cost is known, the support line for the Bitcoin market price can be seen.

The cost of mining is a very powerful indicator, Sasaki declares.

For speculative purposes, for example, the position of a trader who buys or sells is not a major influence in the medium to long term. Because the person who buys in cannot get out of the market without selling exactly the same amount. On the contrary, the person who sold the short-sale must buy it back somewhere. There is no one-way position in speculation. He pointed out that the positions traders made are always seeds for future counter-trading, which is why they have little influence.

But the transaction on anon system is one-way. Miners will buy Bitcoin again after profit is fixed after converting 1800 BTC of compensation to fiat currency to pay for mining expenses such as electricity bill, hardware bill, rent, labor cost etc. There is no such thing.

 

 

Understanding business mortgages

Liquidity is something that no business can afford to neglect. Without cash to hand, you’ll be unable to pay your staff, invest in the future, or deal with short-term shocks. There are myriad financing options available to those who run businesses, with mortgages being just one of them. Not only will they help a business to deal with cash-flow; they’ll also help to get the operation off the ground in the first place.

What is a business mortgage?

A business mortgage refers to any load secured on a property that you’re not living in. They’re distinct from residential mortgages in this respect, but for the most part they work in the same way. If you fail to make repayment, then you risk the lender taking possession of your premises.

How can I apply for one?

Once you’ve found a willing lender, you’ll need to submit an Asset and Liability form. This can be done using pen and paper, but most of the time it is done online. You can then apply for the mortgage, providing all the of the relevant information, before your property is valued and the offer is put forward by your lender. Over the course of this process, a number of checks will need to be performed by the lender’s legal team. You can expedite matters by providing trading figures, bank statements, and proof of ID as quickly as possible.

The pros and cons

The most obvious drawback of a business mortgage is that you will lose your property in the event of a default. Moreover, you might end up having to pay quite a significant deposit, and thus it’s worth making sure that you will be able to comfortably deal with the interest payments.

There’s also significant variety among the lenders available, which makes it especially important that you have a competent mortgage broker on your side. These professionals will run through the options and identify the lender that best suits your circumstances, and which offers the most competitive rate. Of course, they’ll extract a small fee for their services, but for the most part this is a price worth paying. If you’re unsure of your options, then consult one of the many financial advisers London has to offer.

Among the upsides is that you’ll be able to apply for a mortgage even if you don’t have the best credit rating, and that, since you’re going to be securing the loan against property, this is a straightforward way to expand your premises, or establish premises for an existing business.

 

Digital technology continues to transform the transportation industry

The transportation has leveraged digital technology for years now. GPS has long been used to ensure drivers know the fastest and most efficient route to get them where to go, while various in-cabin digital technologies have helped fleet managers to achieve much-needed visibility over their assets, their cargo and their drivers. Now, however, a combination of legislation and technological innovation continue to transform the transportation industry. Providing greater visibility to companies and their clientele alike, helping to mitigate costs and making fleet service providers and logistics company more accountable.

Image by Tama66 via Pixabay

Digital Tachographs become mandatory

Digital Tachographs are not new to logistics and fleet management. Companies have used them for years now to track vehicles’ speed and distance and to monitor driver activity. However, in accordance with recent EU & AETR legislation Digital Tachographs are now mandatory. The law requires all vehicle that weight in excess of 3.5 tonnes to be fitted a tachograph. However, this doesn’t necessarily have to be Digital. Analogue models (though increasingly rare now) are also acceptable. All commercial vehicles registered on or after 1st May 2006 need to be fitted with a digital tachograph before users can drive them legally.

The universal use of this technology will no doubt result in better timekeeping, improved driver accountability and fewer driving infringements.

Data visibility becomes even more important

In the age of Big Data, fleet managers are more reliant than ever on access to data and quality operational insights gleaned from it. Fleet managers, after all, have very specific metrics and KPIs that must be considered for efficient and effective transportation. This necessitates a market for in-cabin tech that goes beyond simple telematics. Fleet managers cannot afford for the location and condition of vehicle assets to ever be left to chance, so efficient communication between Fleet Managers and drivers is fundamentally important.

This is why fleet managers have become increasingly reliant on service providers like Acertus, Autodriveway and Professional Automotive Relocation Services (PARS) to create partnerships that leverage technology to create more harmonious communications.

Knock-on effects for supply chain management

It stands to reason that more informed fleet management and better connected drivers will have a knock-on effect for the whole supply chain from manufacturer to end consumer. This means that consumers will inevitably have higher expectations, and the logistics and transportation space may well get much more competitive. And in an era where over 25% of logistics and transportation companies admit that they have no digital plan in place, we can expect the market for digital partnerships to grow exponentially in the coming years.

One step closer to autonomous vehicles?

For over a decade now, telematics have been leveraged to calculate safer and more time / fuel efficient routes. As telematics solutions grow ever more sophisticated and affordable it’s safe to say that we’re moving closer and closer towards the endgame of fully autonomous vehicles. As AI plays an increasingly prominent role in the telematics industry, the next challenge to the industry may be leveraging fully autonomous vehicles in a way that is safe, cost-effective and satisfactory to the client.

 

Keeping your business on budget with online software

As a business owner, you have a lot on your plate. You’re organizing operations, handling clients, and taking care of your office. At the same time, you know managing your business’ finances is essential for ongoing success. The good news is you don’t need a fancy degree or any accounting experience to get started with your business finances on your own.

In fact, solving your financial challenges might be as simple as clicking a button on your smartphone or just managing online software. Keeping a tight grip on your finances will help you run your business more effectively, strengthen your decision-making skills, and ensure you’re maximizing profits.

Yet, around 60% of small business owners feel they don’t understand accounting or finance. In this guide, we’ll discuss the reason you should consider online software for your business’ finances as well as how to get started.

Image via Pexels

Why use online software for your finances?

You might be wondering why online software is the right choice in the first place. If you’re like many business owners, you likely can’t afford the expense of an in-person employee who takes care of your finances. Hiring someone isn’t an option, but does that mean your only option is online software?

In short, no. You can always outsource your IT management, but that still opens you to new challenges. Ultimately, there are no short cuts when it comes to saving your budget. You need a system for improving your business performance, and this is where technology succeeds over humans.

A startling 30% of businesses fail because the owner simply runs out of money. This is a statistic that proves the importance of staying aware of your incoming and outgoing funds as well as the status of your business.

Image via Pexels

Finding the right online software

Now that you know that online software can be a powerful tool for businesses, let’s talk about where to find the right online software. The sheer number of resources and options can be overwhelming.

First, you’ll want to identify your goals as a business. You need to understand your goals so you can then continue your search. You’ll want to tie down your needs, such as narrowing down that you need an online fax solution. A tool such as eFax could come to your rescue here, both to cut down on paper and improve your performances.

The good news is these technological tools are constantly growing and expanding. Many are available both online and through smartphone apps. That means you can take your businss with you on the go, track expenses on your phone, and stay on top of your business growth. Things change quickly. Having a way to stay easily connected with your money is key to success.

Questions to ask to guide your software search:

What features do you need? Are there specific features that are necessary to run your day-to-day business? Features might include inventory processing, invoicing, or even payroll.

What are you able to pay? Depending on the size of your business, you might not feel comfortable dishing out a high monthly fee on a service. Luckily, you can find software to suit all budgets.

How do you plan to use your software? Most platforms today include online software, desktop software, and smartphone apps. Think about how you use your business software, and whether you need on-the-go capabilities or cloud storage.

This is in no way a comprehensive list of questions to ask, but these are the most important questions related to most businesses. It might help to try a few solutions for yourself to see what works best with your operations. There is rarely a one-size-fits-all solution.

Final thoughts

Managing your business isn’t always easy, but it doesn’t have to be complicated. You don’t need an advanced degree or full-time business person to stay in control. In a world where only around 70% of small businesses survive their second year, you need to take advantage of any advantage you can get.

Depending on your needs, there’s a solution to fit to your lifestyle as a business owner. Online software simplifies your daily accounting tasks, provides analytics, and shows you ways to improve. You have nothing to lose, so get in control of your business today.

 

The entrepreneur wars: baby boomers vs. millennials

(Photo by Helena Lopes on Unsplash)

Age ain’t nothing but a number, especially when it comes to starting your own business. The woes of entrepreneurship don’t discriminate when it comes to age, as entrepreneurs of any age can tell you. However, the ever-widening generational gap between veteran baby boomers and up-and-coming millennials is making for some interesting comparisons in the business world.

Each generation comes with its stereotypes, and these two are no exception. Younger people see baby boomers as hard headed traditionalists who are stuck in their ways, as well as the generation that left a giant mess for their descendants to clean up. In contrast, baby boomers look at millennials as entitled brats who demand instant and individualized gratification. While there’s some truth to all of this, there are unique variables that have helped shape the mindsets of entrepreneurs of these generations.

Unsurprisingly, millennials may be less motivated to start their own business. This ennui stems from the mountain of student debt that millennials collectively shoulder: 2017 numbers boast a mind-numbing $1.2 trillion. Furthermore, the average college graduate in 2016 would graduate with at least $30,000 in student loans, severely hampering their entrepreneurial ambitions, let alone their financial mobility in its own right. Consequently, millennials with business dreams have found success with some great middle-of-the-road options. For example, a record number of millennials are now buying baby boomer-owned businesses, giving hope to the 54% of baby boomer entrepreneurs who are looking to close up shop within the next decade. Taking over an already established business means less business debt for millennials, as well as finding a knowledgeable business advisor in the former owner, who often stays on to help the new owner transition into business ownership more smoothly.

However, millennial startups are also looking for the best of both worlds when it comes to their digital presence, too. Many millennial-run websites are moving increasingly towards virtual private server (VPS) hosting, a hosting service that combines the bandwidth and speed of a dedicated server with a price tag closer to shared hosting options. It’s no wonder VPS hosting is so popular with millennials, especially considering the great, cheap vps options that are currently available.

As we’ve discussed, baby boomers are much more traditional, especially in terms of business. Baby boomers have a stronger sense of hierarchical stratification in a business environment, pointing to the traditional view of heeding your elders. This idea is evidenced by the 76% of millennials who believe their boss has something to learn from them, a much higher figure than the baby boomers’ 50%. However, age is becoming an increasingly worrying problem for baby boomers, with the youngest of this generation now entering their sixties. 72% of baby boomer business owners confess that they have no exit strategy for their business, signaling a growing anxiety about who is going to take over the economic workforce.

It’s no secret that baby boomers and millennials grew up in entirely different worlds. Not only does this inform the way they think, but their business practices also reflect their unique generational mindsets.